The two men, from Yapton and Bognor Regis, were arrested on suspicion of bogus caller thefts from homes in the area.
Residents are being asked to contact the police if they too have been approached by suspicious callers in the area in recent days.
Officers spotted a car they suspected of being involved in the thefts, on the westbound A27 at Lancing and followed it to Fontwell where it was successfully stopped without serious damage or any injury.
The two men, aged 25 and 38, were arrested on suspicion of thefts of cash and valuables on Thursday (16 July) from three addresses, in Main Road, Yapton, and Upper Bognor Road and Essex Road in Bognor, by posing as water company workers checking for leaks.
They are currently in custody for interview and further enquiries.
A further incident at an address in West Street, Bognor, on Tuesday (14 July) resulting in nothing being taken.
Detective Constable Louise Clark said: "If you have been approached by men who say they are from the water company and have come to check for leaks, please contact us online or by calling 101, quoting serial 632 of 16/07.
"Always keep such callers out, check their identities, and call us on 999 if you are still suspicious and they are present."